EURUSD is stable – Analysis - 01-09-2016
The EURUSD pair keeps its stability below 1.1196 level, and the price continues to fluctuate within tight track, noticing that stochastic enters the overbought areas now to form negative factor that we are waiting to assist to push the price to resume the bearish bias again.
Until now, the bearish trend scenario still valid on the intraday basis supported by the negative pressure provided by the EMA50, waiting to test 1.1067 level mainly, reminding you that breaking this level will push the price to head towards 1.0938 direct, while breaching 1.1196 level represents the key to stop the current negative pressure to push the price to regain the main bullish trend.
Expected trading range for today is between 1.1050 support and 1.1225 resistance.
Expected trend for today: Bearish
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